So tania says:
I never said any such thing. I have said that socialist are better equip in understanding socialism than any other types of economist. You place your faith in economist opinion, but you don't even understand that they're all different, and they devote their careers to studying different aspects to economist.
That's "equipped", me dear. Learn the kings English. Right. You just made a really simple statement again, apparently thinking it was profound.
Did you know that some clowns think that oil companies refine gasoline in oil tankers. Why would you believe anything that anyone so stupid as to say they refined gasoline in an oil tanker?? Best guess, they are liars. Why would you suggest anyone would listen to such a person??
It's no big secret that when you are losing a debate with a poor constructed argument, you like to change the subject. How about you actually respond the the point in question?
And here, we have an example of how to waste the time of anyone who would care to read this drivel. Good deal.
Be we all understand that you cannot read very well, which is why you have no response to it. Most people here want to learn, and they find my input valuable.
But, Tania says first that the economist should be a marxist, then changes her mind and says that Sowell, an admitted libertarian, should know all about socialism. How about that. Nice of you to admit that you do not have to be a marxist. Or even a socialist of a lesser stripe, to understand communism and socialism. I mean, hell, me girl. Most libertarians convert before they reach puberty. Sowell just wanted to make the big bucks that aligning with the Koch brothers brings him. Hell, the guy actually has over 40 articles in that great bat shit crazy con web site, TownHall. No economist is that nuts. Well, actually
Sowell is.
I see the problem with your 'King English' is that it prevents you from being able to read very well. I said that I also consider the words of FORMER SOCIALIST as well. I've said, Thomas Sowell WAS a Marxist. Whether or not he is currently a libertarian is irrelevant. I have also explained that he has written a book about Marxism as a philosophy, regarding it's economics, and his personal experiences.
[ame=http://www.amazon.com/Marxism-Philosophy-economics-Thomas-Sowell/dp/0688064264]Marxism: Philosophy and economics by Thomas Sowell[/ame]
Now, one may wonder why anyone would call hong kong or singapore libertarian. But of course, it is because a study funded largely by Heritage said they were the MOST open market in nature. Now, they also said that they were NOT libertarian.
Libertarians support Open Markets, therefore, those economies are libertarian.
I'll explain this to you using basic algebra:
Open Markets = Free Trade = Libertarian.
Let me know where I have confused you.
If you wonder why they are building a libertarian island, you COULD read the article I linked for you. They tell you. From their own mouths. Mostly, they say, because they can not find a nation libertarian enough. And also, because where voting by the public occurs, libertarian goals loose. Simple enough, if you cared to know. Which I am sure you do not.
Key word: Libertarian enough. All that simply means is that there are no nations which are Libertarian the way they want it to be. It doesn't change the fact that they are libertarian.
No wonder Kennedy is having a field day with you. You keep proving his point for him. You're a living self contradiction.
No, me dear. Singapore and Hong Kong are mixed economies with primarily capitalist charactoristics. More capitalist, in other words, than socialist. Which would be why you are unable to find a source that believes they are libertarian. Jesus, me dear, you better go check Sowell. Maybe he will have a quote for you. (just kidding. Even Sowell would not be that stupid. That honor goes to TANIA.
As I've said before, the fact that you don't understand what '
primarily' means just shows what little education Americans yield. I guess this is attributed to your 'King English' and you inability to fathom basic words my 9-year-old niece can understand.
1. It cannot be a Mixed Economy if it's 'primarily' Capitalist. Primarily is synonymous with the word, 'mainly' or 'most.'
Most is defined as the greatest in number.
Some is defined by a small amount. Now that you understand what these basic words mean, lets use them in a sentence:
Most of the Hong Kong and Singapore Economy is Capitalist, with a some (small amount) of Socialist Aspects. Or in the case of Hong Kong and Singapore, next to none.
2. We can already sum up the state of the Hong Kong economy, using your logic:
Partially. But they believe themselves to be primarily socialist. You may want to go argue with them.
Welcoming the news today (December 9), the
Financial Secretary, Mr Henry Tang, said the government was firmly committed to maintaining Hong Kong as a free market economy that accords maximum scope to the private sector.
"We see the role of the government as a facilitator that provides a business-friendly environment where all firms can compete on a level playing field," he said.
"The government will also maintain an appropriate regulatory regime to ensure the integrity and smooth functioning of a free market."
Hong Kong remains world's freest economy
Again, you need to argue that with them. And a whole lot of economists, who believe what they say.
Economist Robert A. Lawson said:
What is the freest economy in the world? Hong Kong. Hong Kong has relatively low taxes, a good legal system, sound money, free trade, and minimal regulations; and it has had these institutions and policies in place for several decades.
Economic Freedom: The Concise Encyclopedia of Economics | Library of Economics and Liberty
So, using your own ignorant vernacular, 'they believe themselves to be libertarian, and economist agree with them.'
Here are a few facts about Hong Kong, your libertarian
city:
The Economist has declared the death of laissez-faire in Hong Kong now the city has passed a minimum wage law.
OOOOPS......
[/quote]
It appears you gathered your information from a blog, so I can understand where your inaccuracies originate from.
1. Minimum wage is irrelevant. Most countries have minimum wage laws, and Hong Kong is the lowest among any advanced economy: $3 dollars an hour. That've very low considering that the country is ranked 7th in terms of GDP Per Capita.
GDP per capita, PPP (current international $) | Data | Table
2. There is no socialist aspect to the minimum wage. At all. Karl Marx spent most of his time studying the mechanics of Capitalism regarding the Labour Theory of Value and discovered that "Wages therefore are only a special name for the price of labour-power, and are usually called the price of labour; it is the special name for the price of this peculiar commodity, which has no other repository than human flesh and blood."
He wrote all about it in a pamplet of his in 1847 called Wage Labour and Capital:
http://www.marxists.org/archive/marx/works/1847/wage-labour/ch02.htm
Wages, as he under stood it, was a struggle between the capitalist class and the worker. Lowest possible costs in order to realize the greatest margin of profit. The minimum wage is generally the lowest possible cost for the capitalist class and many businesses. As such, Karl Marx and Fredrick Frederick Engels did not support a minimum wage. They instead supported what is called 'The Natural Price for Labour.'
3. Socialist support a living wage, not a minimum wage. One would have thought you understood something so basic.
We'd like a living wage with that order | SocialistWorker.org
What we can gather, the minimum wage in Hong Kong is low. It is not distributed according to The Natural Price for Labour, and it definitely was not designed to keep up with the cost of living. The minimum wage in Hong Kong is low, just how Libertarians like it. If you don't understand what libertarians support, all you have to do is just ask them:
Libertarian Party said:
The Libertarian Party believes government regulations in the form of minimum wage laws drive up the cost of employing additional workers.[47] This is why Libertarians favor loosening minimum wage laws so that overall unemployment rate can be reduced and low-wage workers, unskilled workers, visa immigrants, and those with limited education or job experience can find employment.
http://en.wikipedia.org/wiki/Libertarian_Party_(United_States)
Fans of free-market Hong Kong also ignored the major role played by the government in housing, its support for textiles, the port and other sectors, and its transfer of land in lieu of funds to finance projects like the MTR.....
What is interesting is that your blog doesn't even know that 49.7% of all housing in Hong Kong are private ownership housing. Only 31 percent of housing are public housing.
Still, Hong Kong has undeniably drifted towards statism. A rise in social expenditure was inevitable following the 1960s, when communist protestors tried to topple the colonial authorities (as they essentially succeeded in doing in Macau). Growing public expectations of government were inevitable after the educated, post-refugee generation became middle class. To some, last colonial governor Chris Patten drove a big nail into the coffin of laissez-faire when he boosted welfare and introduced a compulsory retirement savings
Gov spending growing???
Yeah, we can clearly see that big growth in Government Spending:
Welfare???? Compulsory retirement savings???
Obviously, you are unaware of the retirement situation in Hong Kong and the blog you have sourced doesn't due a good justice in educating you. The compulsory retirement savings you are referring to is the Mandatory Provident Fund. It's nothing more than Social Security. Hong Kong already has a Social Security, but it is currently being phased out for a much better pension program. With Hong Kong's rapidly aging population, Social Security is no longer sufficient enough to provide for the retirees. At least they've realised this problem much earlier than you Yanks.
In this scheme, it's only mandatory that you contribute to a pension scheme. The voluntary part is that it can be a personal savings or insurance policy of your choosing. And the best part about of it all: You can opt out at any time you wish. This is basically no different from Galveston County, Texas using a loophole in the US Tax Code to opt out of Social Security and create their own Pension Program.
http://www.gov.hk/en/about/abouthk/factsheets/docs/mpf.pdf
Thanks for showing us how getting our information from 'independent, credible sources.' LMAO, embarrassing.
So Hong Kong is a city, not a state, of 421 square miles (the equivalent of 20 miles by 21 miles) and about 7 million people. Yeah. That would be a great example of a libertarian country. And of course, it is a city within China. And successful, it has not been around long enough in it's current state to qualify as having proven anything.
Your ignorance would actually be staggering if I didn't think there were nations inhabited with morons like you...
Hong Kong is not a city, it's country. You can even find it within it's list of countries on the State Department's website.
A-Z List of Country and Other Area Pages
And the Census Bureau which tracks trade statistics:
Foreign Trade - U.S. Trade by Country
http://www.census.gov/foreign-trade/schedules/c/country.txt
And many more institutions. Far too many for me to name. You're probably the only living, breathing human being who honestly believes Hong Kong is not a country. That's ******* pathetic.
Also when Great Britain has regained control of Hong Kong since 1945, they've maintained a strict policy of non-interventionalism. That's almost 70 years of the Free Market experiment, and they've amassed a greater amount of prosperity than any other Western Economy.
You are very clueless if you believe that doesn't prove anything.
That is the thing, Tania. Trying to prove that libertarianism is viable makes those trying to do so look really, really desperate.
Sort of like obtaining their facts about a country from a blog.